UL Solutions Inc. $ULS Shares Sold by Baird Financial Group Inc.

Key Points

• Baird Financial Group reduced its UL Solutions stake by 11.7% in the second quarter, selling 40,425 shares and retaining 305,160 shares valued at approximately $31.1 million.
• CEO Jennifer Scanlon sold 12,500 shares for about $920,750; insiders have sold 37,500 shares worth $3.3 million over the past 90 days.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $96.78. UL Solutions recently exceeded quarterly earnings and revenue estimates, while shares were trading at $71.25.

Baird Financial Group Inc. lowered its holdings in UL Solutions Inc. (NYSE:ULS - Free Report) by 11.7% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 305,160 shares of the company's stock after selling 40,425 shares during the quarter. Baird Financial Group Inc. owned about 0.15% of UL Solutions worth $31,084,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Parallel Advisors LLC boosted its holdings in shares of UL Solutions by 349.3% in the 1st quarter. Parallel Advisors LLC now owns 301 shares of the company's stock valued at $26,000 after buying an additional 234 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in UL Solutions by 3,070.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 634 shares of the company's stock worth $46,000 after acquiring an additional 614 shares in the last quarter. Rhumbline Advisers acquired a new stake in UL Solutions during the 1st quarter worth $49,000. CIBC Private Wealth Group LLC lifted its position in UL Solutions by 112.7% in the fourth quarter. CIBC Private Wealth Group LLC now owns 904 shares of the company's stock valued at $71,000 after acquiring an additional 479 shares during the last quarter. Finally, GAMMA Investing LLC lifted its position in UL Solutions by 42.4% in the second quarter. GAMMA Investing LLC now owns 823 shares of the company's stock valued at $84,000 after acquiring an additional 245 shares during the last quarter.

Insider Transactions at UL Solutions

In other news, CEO Jennifer Scanlon sold 12,500 shares of the stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $73.66, for a total transaction of $920,750.00. Following the completion of the transaction, the chief executive officer directly owned 139,224 shares of the company's stock, valued at approximately $10,255,239.84. This represents a 8.24% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In the last 90 days, insiders sold 37,500 shares of company stock worth $3,312,000. Insiders own 1.20% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. The Goldman Sachs Group set a $86.00 price objective on shares of UL Solutions in a research note on Wednesday, August 5th. Wells Fargo & Company cut their target price on UL Solutions from $120.00 to $104.00 and set an "overweight" rating on the stock in a research report on Wednesday, August 5th. UBS Group reduced their target price on UL Solutions from $110.00 to $96.00 and set a "buy" rating for the company in a report on Wednesday, August 5th. Robert W. Baird set a $95.00 target price on UL Solutions in a research report on Wednesday, August 5th. Finally, Weiss Ratings upgraded UL Solutions from a "buy (b-)" rating to a "buy (b)" rating in a research note on Wednesday, August 5th. Six investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, UL Solutions presently has an average rating of "Moderate Buy" and an average price target of $96.78.

UL Solutions Trading Down 2.3%

NYSE:ULS opened at $71.25 on Friday. UL Solutions Inc. has a 12-month low of $65.17 and a 12-month high of $107.54. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 0.19. The stock's 50 day simple moving average is $81.35 and its 200-day simple moving average is $87.85. The firm has a market cap of $14.38 billion, a P/E ratio of 28.84, a PEG ratio of 3.03 and a beta of 0.63.

UL Solutions (NYSE:ULS - Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $0.59 earnings per share for the quarter, beating analysts' consensus estimates of $0.56 by $0.03. UL Solutions had a net margin of 16.02% and a return on equity of 28.81%. The firm had revenue of $816.00 million for the quarter, compared to analyst estimates of $813.62 million. During the same period last year, the firm posted $0.52 EPS. UL Solutions's quarterly revenue was up 5.2% on a year-over-year basis. Equities analysts anticipate that UL Solutions Inc. will post 2.08 EPS for the current year.

UL Solutions Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 10th. Shareholders of record on Monday, August 31st were issued a $0.145 dividend. This represents a $0.58 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend was Monday, August 31st. UL Solutions's payout ratio is currently 23.48%.

UL Solutions Company Profile

UL Solutions Inc NYSE: ULS is a global applied safety science company that provides testing, inspection, certification, verification and advisory services. The company helps manufacturers, retailers, regulators and other organizations assess whether products, systems and processes meet applicable safety, security, performance and sustainability requirements.

Its services cover a broad range of industries and technologies, including consumer products, industrial equipment, energy and utilities, chemicals, mobility, information technology and the built environment.

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